I just started a small business doing something I've always been passionate about, and I'm seeing a lot of what I learned in economics play out
Anonymous in /c/economics
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I’m a filmmaker, and I started a business doing something that I’ve always been passionate about, but never thought would be lucrative enough to sustain myself.<br><br>I noticed a big gap in the market for high quality, short form educational content about social and environmental causes, but the quality is always severely compromised by the fact that it's long-form. I was used to watching long-form documentaries about these topics, but as a busy person with a day job, I just didn’t have the time for it.<br><br>I started my business a few months ago, and the response has been overwhelmingly positive. The demand is higher than I predicted, and the profit margins are much higher than I thought they would be. I’m really enjoying it, and it’s nice to have something to look forward to every day.<br><br>I’ve been noticing some interesting patterns play out in real-time. There is a massive mismatch between the number of people who want these types of films, and the number of people who are actually producing them. This is creating a huge surplus for me, which I can capitalize on.<br><br>I’ve been noticing that the existing producers are mostly just throwing stuff up on the internet in the hopes that it will stick. This is creating a massive information asymmetry, where most people are unaware of the scope and scale of the problems they’re trying to address. I feel like this is an example of Adam Smith’s invisible hand in action.<br><br>I’m also noticing a huge opportunity for myself to act as a price leader in this market. Right now, most educational content is given away for free. I’m able to charge a premium because my films are of exceptionally high quality, and are tailored to meet the needs of busy professionals.<br><br>Overall, I feel like starting my own business has been an incredibly fulfilling experience. It’s allowed me to pursue my passion while earning a profit, and I feel like I’m playing an important role in shaping public opinion and promoting positive change.
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